Clause 43

The Second Schedule to the principal Act is amended by deleting Part A and substituting the following Part:“Part ARates of Tax on Chargeable Income of An Individual or A Hindu Joint FamilyChargeable Income Rate of TaxFor every dollar of the first$20,000NilFor every dollar of the next$10,0003.5%For every dollar of the next$10,0005.5%For every dollar of the next$40,0008.5%For every dollar of the next$80,00014.0%For every dollar of the next$160,00017.0%For every dollar exceeding$320,00020.0%.”.